Misconceptions About Accountants

4 Misconceptions About Accountants

An accountant will give me business advice.

Unfortunately, many accountants do not have the training or experience to provide business advice, including marketing and systems development. They do not make good small business coaches or consultants and don’t see themselves in this role. So, many business owners like you are forced to look elsewhere to try to find a business consultant or throw in the towel and give up.

An accountant works with many businesses and can share ideas with me that I can use to be more profitable.

While it is true that an accountant does work with many businesses and comes across many ideas that could benefit you, those ideas are rarely shared with you. This is because too many accountants see themselves as “number crunchers” only, and not as your advisor. Often, the difficulty comes in because of the accountant’s workload and their inability to have sufficient free time to proactively share those ideas with you. You’re left fighting an uphill battle… alone.

If a particular accountant doesn’t work out, I’ll simply change to another one.

Unfortunately, it becomes difficult to continually change accountants when the relationship is not working. If your accountant gives you bad tax advice, overlooks an opportunity that you could profit from, fails to share a significant idea, is unable to communicate in a way that you understand, or doesn’t have time to work closely with you, the result will be costly. You’ll miss out on the overwhelming advantage of having a truly great advisor from day one.

Even if I’m late getting my information in, my accountant will always do a great job for me.

The reality is, the later you give your information to the accountant, the less time they’ll have to go over it and to do a quality job. You put yourself, and your accountant, at a great disadvantage by doing this because you aren’t the client bringing your information in late. Therefore, a word to the wise. Always be prompt in providing your financial documentation. The difference can put real dollars in your pocket.

Hopefully you are now more able to make a well-informed decision on whether your current accountant is working for you or how to choose your first small business accountant. For more information on how Kilcoyne Accountants can help you run a better business then contact us today.

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